Biogen Inc. (NASDAQ:BIIB) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The firm presently has a $319.53 price target on the biotechnology company’s stock. Vetr‘s target price would suggest a potential upside of 13.65% from the stock’s current price.

BIIB has been the topic of a number of other reports. UBS AG restated a “neutral” rating and set a $285.00 price target (up from $270.00) on shares of Biogen in a research report on Wednesday, July 26th. Sanford C. Bernstein restated an “outperform” rating on shares of Biogen in a research report on Thursday, May 25th. Deutsche Bank AG restated a “buy” rating and set a $319.00 price target (up from $315.00) on shares of Biogen in a research report on Wednesday, July 26th. Piper Jaffray Companies set a $442.00 price target on shares of Biogen and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Morgan Stanley restated an “equal weight” rating and set a $307.00 price target on shares of Biogen in a research report on Wednesday, June 14th. Eleven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $329.74.

Shares of Biogen (NASDAQ BIIB) traded down 2.63% on Thursday, reaching $281.15. 1,377,956 shares of the company’s stock traded hands. Biogen has a 52 week low of $244.28 and a 52 week high of $329.83. The company has a 50 day moving average price of $281.40 and a 200 day moving average price of $273.93. The firm has a market capitalization of $59.44 billion, a price-to-earnings ratio of 18.45 and a beta of 0.79.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the firm earned $5.21 EPS. Biogen’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Biogen will post $21.44 earnings per share for the current fiscal year.

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In related news, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the transaction, the director now directly owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock worth $3,931,380 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares in the last quarter. Janus Capital Management LLC increased its stake in Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock valued at $529,524,000 after buying an additional 1,301,251 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock valued at $369,709,000 after buying an additional 1,295,540 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Biogen during the first quarter valued at approximately $345,143,000. Finally, Manning & Napier Advisors LLC increased its stake in Biogen by 563.8% in the second quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock valued at $220,986,000 after buying an additional 691,694 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Company Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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